BOULDER, Colo., Nov. 7, 2017 /Weed Wire/ — Canopy, a venture fund and business accelerator for ancillary products and services companies in the legal cannabis industry, is pleased to open the Spring 2018 application to startups in the legal cannabis industry. The accelerator, launched in Spring of 2015, has funded 73 cannabis ancillary companies and is looking for the next class of tech-focused entrepreneurs for its January 2018 program in Boulder, CO.
“The teams we are looking for are targeting acute problems in the cannabis industry that can be solved with a combination of technology and services,” said Patrick Rea, Canopy co-founder and Managing Director. “Being in Colorado, we get an early view into the business problems that other state markets will experience. It’s a simple geographic advantage startup teams can enjoy at Canopy.”
Canopy’s portfolio include industry leaders BDS Analytics, Wurk, Front Range Biosciences, Stashlogix and Direct Cannabis Network. To date, Canopy companies have raised over $30 million from outside investors post-graduation from the accelerator. The accelerator is tech-focused, with over 90 individual investments made into platforms and services for the legal cannabis industry.
“Canopy has created the most diverse and active community of cannabis tech entrepreneurs, mentors, and investors. The most aggressive and committed startups entering the cannabis industry will recognize this opportunity and we welcome their applications for the Spring class.,” said Micah Tapman, Canopy co-founder and Managing Director.
Each company accepted to Canopy’s 16-week business accelerator program receives $30,000 in seed funding and a chance to earn an additional $50,000 in during in the program. The Canopy investment model prioritizes connecting its portfolio companies with experienced mentors, industry pros, Canopy alumni, and a broader cannabis investor network, including investor members of Canopy partner, The Arcview Group. Interested applicants can view the application and program details on CanopyBoulder.com. The Spring application will remain open through November 2017.
Canopy is a venture fund and business accelerator that invests in companies developing ancillary products and services for the legal cannabis industry. Companies are handpicked to receive up to $80,000 in capital and participate in an intensive 16-week accelerator program. Canopy advisors and mentors work closely with each company, helping define business models, refine unique selling propositions, and focus marketing and fundraising activities. For more information, please visit www.canopy.vc.
About The Arcview Group
Founded in 2010, The Arcview Group is responsible for a number of groundbreaking ventures in the cannabis industry. The Arcview Investor Network includes more than 600 accredited investors who have put more than $152 million behind over 162 companies. Arcview Market Research produces the State of Legal Marijuana Markets report, which is the most oft-cited market data report. In 2015, Arcview became a partner in Canopy, the first seed-stage mentor-driven business accelerator in the cannabis industry. Arcview is also co-founder of Cannasure Insurance Services, the leading provider of business insurance to the cannabis industry. For more information, please visit www.arcviewgroup.com.